Yay!! You’re thinking about buying a home!

Purchasing a home is a huge step in life and a giant financial investment. Often times, it’s the single largest purchase that most of us will make in our lifetime. But, it doesn’t have to be a complicated and stressful process. With the right knowledge and guidance, you can make the process smooth, easy and even fun! Here are the ten steps you need to follow to purchase your dream home:

Get Pre-Approved

1.  The first step is to get pre-approved for a mortgage. This will give you an idea of how much you can afford and make you a more attractive buyer to sellers. It’s our recommendation you don’t even view a home without having a pre-approval in hand. You can always window shop on websites like Zillow, Realtor or hey, here’s an idea, even our personal website! But until you have a lender letter in hand, please stick to online searches.  Besides, getting pre-approved will also give you a reason to brag to your friends about your credit score.

Meet With Your Agent

2.   After you have your pre-approval, it’s time to find a real estate agent if you don’t already have one. If you haven’t found one yet, we’re always open to helping new clients! We will help you find homes that fit your budget and preferences and guide you through the buying process, and also serve as your personal tour guide.

Start Looking For Homes

3.  This is where the real fun begins! With the help of your agent, (hopefully us) start looking at homes that meet your criteria. Take the time to visit several homes and make sure you find one that you love, and that has the perfect spot for a home theater you’ve always wanted!

Make An Offer

4.   Once you’ve found a home, it’s time to make an offer. Your agent will help you determine a fair price and negotiate with the seller on your behalf, and also help you to haggle like a pro. They will also walk you through all the paperwork so you understand everything you’re signing.

Offer Accepted

5.    After the offer is accepted, you and the seller will sign a purchase agreement. At this point you’ll be what’s called “under contract” to purchase. This means you intend to purchase the property on a pre-determined date you and the seller mutually agree on for a price and terms agreed upon by both parties.

Inspections

6.   Before you close on the home, it’s crucial to have it inspected by a professional inspector. We generally have this done within 14 calendars days in our market. This will ensure there are no hidden issues with the home, or any haunted rooms. Just in case there are issues, this is where we get to negotiate the repairs of the home. In some cases when the repairs are too extensive, you can always walk away from the transaction as well. This is where having a great real estate agent that puts your needs first is critical.

Appraisal

7.   The lender will also require an appraisal of the home to ensure the purchase price is fair market value. This is also the time to make sure your house doesn’t have a value lower than your car.

Title Search

8.    The title company will perform a title search to ensure there are no liens or other issues with the property’s title. This is also the time to make sure your house is not haunted by a previous owner’s ghost.

Documents To Lender

9.   The lender will require various documents, such as proof of income and employment, before they approve the loan. This is also the time to make sure you didn’t forget to change your name to “Duke of Bucks”

Closing Day

10.   Once all the steps are complete, you will close on the home. This typically involves signing ALOT paperwork and paying closing costs. Make sure you’ve got your signing hand good and ready! It might be sore by the end of it! This is also the time to finally put that “Home Sweet Home” sign on the front lawn.

By following these ten steps, you can purchase your dream home with little to no stress. Don’t get us wrong, buying a home can be an emotional process with peaks and valleys throughout. But if you’re working with an experienced real estate agent they will have your back through thick and thin, and even have someone to laugh with when things get overwhelming. If you’ve been kicking around the idea of buying your first home or you 20th, give us a call and we’d love to get you on the right track!

-Cody & Jos-